{smcl}
{com}{sf}{ul off}{txt}{.-}
      name:  {res}<unnamed>
       {txt}log:  {res}C:\Users\myogo\Princeton Dropbox\Motohiro Yogo\Koijen Yogo - International\JPE\Replication\Code\6 Valuation\Valuation0_3.smcl
  {txt}log type:  {res}smcl
 {txt}opened on:  {res}31 Oct 2025, 12:33:59
{txt}
{com}. /* Define local and global variables */
> 
> do global;
{txt}
{com}. /* global.do (STATA)
>         Define global variables in "Valuation".
>         by Ralph Koijen & Motohiro Yogo */
. 
. #delimit ;
{txt}delimiter now ;
{com}. clear all;
{res}{txt}
{com}. do "../3 Estimation/global";
{txt}
{com}. /* global.do (STATA)
>         Define global variables in "Estimation".
>         by Ralph Koijen & Motohiro Yogo */
. 
. #delimit ;
{txt}delimiter now ;
{com}. clear all;
{res}{txt}
{com}. global macro = "LgdpP LgdpPpc Gcpi vol drate";
{txt}
{com}. global bilateral = "dist";
{txt}
{com}. global dummies = "Iown I_CR I_OC Iyear_*";
{txt}
{com}. global dummiesA = "Itype_*";
{txt}
{com}. global iv = "IVexdemand";
{txt}
{com}. global ivA = "LSdelta*";
{txt}
{com}. 
{txt}end of do-file

{com}. global step_W = 1;
{txt}
{com}. global step_fx = .5;
{txt}
{com}. global step_mb = .5;
{txt}
{com}. global Nstep = 1e4;
{txt}
{com}. global Mgap = 1e-9;
{txt}
{com}. 
{txt}end of do-file

{com}. /* Call the ado file */
> 
> forval y = 2007/2008 {c -(};
{txt}  2{com}.         forval t = 1/3 {c -(};
{txt}  3{com}.                 Valuation 0 `y' `t';
{txt}  4{com}.         {c )-};
{txt}  5{com}. {c )-};
2007
0     1     1.474e-13     1.394e-13     8.882e-16
1     1669     4.154e-10     9.945e-10     2.664e-08
2     1157     4.145e-10     9.924e-10     2.658e-08
3     1549     4.149e-10     9.963e-10     2.645e-08
4     1438     4.158e-10     9.945e-10     2.638e-08
5     1320     4.154e-10     9.947e-10     2.628e-08
6     1330     4.166e-10     9.978e-10     2.641e-08
2007
0     1     9.770e-14     9.237e-14     1.776e-15
1     1674     4.150e-10     9.928e-10     2.617e-08
2     1202     4.154e-10     9.937e-10     2.619e-08
3     1248     4.191e-10     9.959e-10     2.677e-08
4     1461     4.140e-10     9.981e-10     2.697e-08
5     1182     4.137e-10     9.926e-10     2.698e-08
6     1177     4.134e-10     9.921e-10     2.698e-08
2007
0     1     1.972e-13     1.865e-13     5.329e-15
1     1095     4.188e-10     9.980e-10     2.608e-08
2     1175     4.189e-10     9.978e-10     2.602e-08
3     1321     4.107e-10     9.934e-10     2.513e-08
4     1219     4.186e-10     9.983e-10     2.512e-08
5     1059     4.172e-10     9.983e-10     2.499e-08
6     1126     4.157e-10     9.946e-10     2.489e-08
2008
0     1     6.661e-14     6.306e-14     1.776e-15
1     1449     3.884e-10     9.936e-10     1.838e-08
2     929     3.899e-10     9.973e-10     1.846e-08
3     1298     3.870e-10     9.906e-10     1.824e-08
4     1263     3.952e-10     9.928e-10     1.829e-08
5     982     3.943e-10     9.948e-10     1.822e-08
6     1119     3.956e-10     9.960e-10     1.834e-08
2008
0     1     6.661e-14     6.306e-14     1.776e-15
1     1344     3.908e-10     9.981e-10     1.812e-08
2     995     3.683e-10     9.881e-10     1.706e-08
3     1184     3.921e-10     9.927e-10     1.852e-08
4     1283     3.824e-10     9.901e-10     1.864e-08
5     1064     3.830e-10     9.912e-10     1.869e-08
6     928     3.852e-10     9.977e-10     1.882e-08
2008
0     1     1.776e-14     1.688e-14     5.329e-15
1     856     3.887e-10     9.895e-10     1.773e-08
2     1045     1.182e-10     9.527e-10     5.512e-09
3     1171     3.859e-10     9.994e-10     1.730e-08
4     1594     3.321e-10     9.768e-10     1.070e-10
5     1154     3.683e-10     9.749e-10     1.932e-09
6     1049     3.454e-10     9.934e-10     1.329e-09
{txt}
{com}. log close;
      {txt}name:  {res}<unnamed>
       {txt}log:  {res}C:\Users\myogo\Princeton Dropbox\Motohiro Yogo\Koijen Yogo - International\JPE\Replication\Code\6 Valuation\Valuation0_3.smcl
  {txt}log type:  {res}smcl
 {txt}closed on:  {res}31 Oct 2025, 13:59:05
{txt}{.-}
{smcl}
{txt}{sf}{ul off}